Warm welcome to the show. The data is driving the markets. Downturn will stay for a long time. Be prepared for overly loose policy, harm in the long term. No shock and ought to come. Good morning. Are we jumping too aggressively on the optimism after china data. There were factors to consider. We have to bear in mind there are expectations that inflation could rise significantly in the first part of the year. Absolutely. Lets talk about the bond markets because our guest host says it is going to take 500,000 , 500,000 would not shake the fed. Bond prices are falling. Fedare going to see the cutting rates. The riskalk about market. What happened friday . Cuts at opec this week. A sense of a relief rally in the oil market this morning. , therty values jumped largest jump since 2003. Appetite returns to the aussie market. Qe in australia, that is the question we can debate. Green on the screen for the Msci Asia Pacific index. Bullish views for asia in 2020. 0. 4cline on friday of percent,
Protesters in hong kong and beijing promises retaliation if it becomes law. Alibaba set to raise 11 billion in a second listing next week. It marks hong kongs biggest share sale since 2010. Coming from behind, Jeremy Corbyn holds his own against Boris Johnson in the first tv debate in the u. K. Election, a snap poll puts the leaders at almost even on the night. Good morning. Matt good morning. We are getting headlines that hsbc is going to replace its head of Investment Banking, so those of you working at the Investment Bank at hsbc, at least according to the financial times, looks set to get a new boss. The head will move to a nonexecutive role according to the f role ft and he will get a replacement. We will bring you the developments on this story as the new head of Investment Banking those into the Hong Kong Shanghai banking corporation. Less than half an hour from the european open and lets look quickly at what is going on in terms of the risk picture this morning, the treasury yi
Make their singhas biggest theye day moves as move toward a brexit deal. President trump says u. S. China trade talks are going very well. They continue in washington today. Plus, reports of an explosion on jeddahian tanker near send oil prices spiking. Matt we are 30 minutes away from the european open. I have got those oil prices on my screen. This is a threeday chart of brent crude. It has been climbing anyway on optimism for a u. S. China trade deal, so it was already up to almost 60 a barrel. Now it has jumped over that at 60. 40 on these reports, first from reuters, then from the oil news agency that i missile has struck an oil tanker and it is leaking oil into the red sea. Lets take a look at futures here. Weer we saw stackocks rally, are seeing futures rise on european indexes as well. On thet on the dax, and continental indexes, gaining when you have a big rally in the pound, then you expect to see a loss in equities, that negative correlation. Is it breaking down . I know you
Trumps only regret is not raising tariffs higher. Amid calls for calm escalation. Pricing in more pain. Stocks take a hit across the world. 10 year treasury yields fall to the lowest since 2016. In violent weekend in hong kong seeing equities on a slide the most this year. Watch for luxury stocks at the european open. Matt thank goodness you are back. So good to see you, even if it is via satellite. Pictureing at a 30 day of treasury yields. You can see starting on friday when the trade war was escalating, the chinese put tariffs on 75 billion dollars worth of goods and donald trump came back with more. We saw investors run to treasuries, buying the paper and pushing the yield down. Far away from the one spot 31 eight, which is the alltime low. Take a look at futures. You are not trading in great britain. You have a bank holiday for no reason at all. Just a bank holiday. You do see everywhere else, futures down. Cac futures down. What do you see on the gmm . Anna a pleasure to be back.
Matt miller in berlin. Lets check in on whats going on in the market. We do have gains across some european indices, right now you can see the stoxx 600 up. 2 , the broader European Index is gaining. The dollar is also strengthening against the yuan, you can see one dollar now buys 689. 71 offshore, and the pound is weakening. You can see it down 123. 38. As we get closer to the possibility of hard brexit or new elections, investors continue to sell sterling. Now to the first word news with Viviana Hurtado in new york. Chief executive carrie lam has condemned the violence in her first News Conference on the city since the end of british rule. Fresheclaration follows demonstrations with Police Firing tear gas and rubber bullets at protesters. This week, u. S. China trade talks are set to resume in shanghai, the first since discussions broke down almost three months ago two days of talks are scheduled to begin after president s trump and xi reached a troop at the g20 although deep tensio